Sonic crypto battles yearly lows: can price trigger a market reversal?

Sonic crypto has remained suppressed near its yearly lows after failing to reclaim key levels, with bearish momentum continuing to dominate. However, the chart structure suggests that if support holds and volume returns, a reversal could be in play.

Over the past several weeks, Sonic (SONIC) has traded within a tight, compressed range near the $0.26 high time frame support level, a zone that previously served as a base for bullish momentum earlier in the cycle. Price action has consistently failed to reclaim the value area low, keeping the broader market structure skewed to the downside. Still, this prolonged consolidation at support opens the door for a potential higher low formation, which could spark a long-awaited reversal if key conditions align.

Key technical points

Support Zone: $0.26 HTF support remains the key level to hold.
Resistance Levels: $0.40 and $0.46 are major barriers to reclaim.
Market Structure: Bearish bias persists, but signs of a bottoming pattern could emerge if support holds.

SUSDT (1D) Chart, Source: TradingView

Technically, Sonic has printed a series of lower highs and lower lows, confirming a bearish market structure that has brought the price back into the yearly low region. The failure to reclaim the value area low continues to leave the door open for downside pressure, particularly as each rally attempt has lacked strength and follow-through.

However, Sonic’s extended consolidation at support may indicate the development of an accumulation phase. Markets often oscillate between value area highs and lows, and Sonic’s current position near the value area low gives traders a valid technical case for anticipating a mean reversion move, provided key resistance levels are reclaimed.

The first major milestone in this potential reversal would be a decisive reclaim of the $0.40 region, which aligns with a critical HTF resistance zone. This area has rejected price multiple times, and a clean breakout, ide

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Author: Aziz Zamani

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